Allstate: 2Q Earnings Snapshot
NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Wednesday reported second-quarter earnings of $676 million.
The Northbrook, Illinois-based company said it had profit of $1.80 per share. Earnings, adjusted for non-recurring costs, came to $1.90 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.45 per share.
The insurer posted revenue of $10.1 billion in the period. Its adjusted revenue was $10.12 billion, which also beat Street forecasts. Three analysts surveyed by Zacks expected $8.35 billion.
Allstate shares have decreased nearly 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has increased 5 percent. In the final minutes of trading on Wednesday, shares hit $94.65, a rise of 4 percent in the last 12 months.